In the week-ending December 21, 2012, Barclays Capital reported it would spin out its $2bn West Coast unit to launch a distressed debt hedge fund called Cloverfield Capital; former Citi executive Joel Salomon is reportedly preparing a long/short hedge fund that will focus on financial institutions; and Aaron Smith, former executive at computer trading firm Superfund, launched Pecora Capital and is opening up the quant fund to external investors.

Troy A.M.’s Trojan Fund is up 4.2% YTD; Daniel Loeb’s Third Point is expected to earn $500m in profits after making a bet that Greece would not be forced to leave the euro zone; Philip Falcone’s Harbinger Group declined 27% to $7.50 last week, its biggest decline on record; Odey A.M.’s UK Absolute Return Fund returned 33% YTD; and Thames River......................